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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on form and pushing higher again. At the time of writing, the benchmark index is up 0.3% to 6,799.7 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Brickworks Limited (ASX: BKW)

The Brickworks share price has climbed 4% to $19.67. Investors have been buying the building products company’s shares following the release of its half year results. Although its underlying earnings were down 10% on the prior corresponding period to $90 million, management spoke positively about its outlook. This appears to be an indication that the worst is now behind Brickworks.

McPherson’s Ltd (ASX: MCP)

The McPherson’s share price has jumped 13% to $1.38. This follows news that McPherson’s has received a takeover approach from Gallin Pty Ltd at $1.34 cash per share. Gallin has been incorporated specifically for the purpose of acquiring an interest in McPherson’s. It is owned by Kin Group, which is controlled by the Geminder family. Kin Group attacked McPherson’s management for destroying shareholder wealth. The McPherson’s board responded by saying that the offer is “utterly opportunistic and profoundly undervalues” the company.

Medadvisor Ltd (ASX: MDR)

The MedAdvisor share price is up 3% to 33.5 cents. Investors have been buying the medication management company’s shares following the release of a positive announcement. MedAdvisor has revealed that a global pharmaceutical company has extended its health program deal for an estimated 3 months. This is expected to be worth US$4.7 million.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price has stormed over 4% higher to $24.88. The catalyst for this was the release of a broker note out of Macquarie this morning. According to the note, the broker has retained its outperform rating and lifted its price target to $31.00. Macquarie was impressed with the retail conglomerate’s first half result.

More reading

• ASX 200 up 0.3%: Brickworks impresses, Resolute hammered, Netwealth crashes
• Why the McPherson’s (ASX:MCP) share price is zooming 14% higher today
• Brickworks (ASX:BKW) share price higher following half year results
• Top broker puts sell rating on Premier Investments (ASX:PMV) share price
• 5 things to watch on the ASX 200 on Thursday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of MedAdvisor. The Motley Fool Australia owns shares of and has recommended Brickworks and Premier Investments Limited. The Motley Fool Australia has recommended MedAdvisor. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Ava Risk Group Ltd (ASX: AVA) share price is edging higher today after the company announced that it has won a multi-site rail contract award.

At the time of writing, shares in the risk management services and technologies company are up 2.9% to 52.5 cents.

Ava Risk’s latest contract

Investors are pushing the Ava Risk share price higher following the company’s latest contract win.

In this morning’s release, Ava Risk announced it has secured a $1.84 million deal to deploy its Aura Ai sensing solution to a number of major rail facilities in South America.

Aura Ai-2, developed by Future Fibre Technologies (FFT), is an advanced and versatile perimeter intrusion detection system. The product platform applies artificial intelligence to detect and locate intruders who climb, cut or lift perimeter fences.

The company’s Aura Ai sensing product will be installed across a multi-site program to upgrade security systems. This will be completed by fully-integrating the package with the customer’s existing video management software and CCTV system.

Ava Risk noted that its first purchase order has already been received, valued at $0.61 million. The initial rollout is scheduled for early Q4 FY21, with the remaining sites completed before the end of the quarter.

Word from the manager

Ava group CEO Rob Broomfield welcomed the deal, saying:

FFT Aura Ai-2 was the solution selected to protect the rail sites, due to our exceptional event classification capability, extended sensing distance, and cut resilience capability.

A further key factor in the contract win was FFT’s previous success in protecting railway infrastructure and the company’s strong reputation across the broader transportation sector.

Ava Risk share price summary

The Ava Risk share price has jumped to more than 400% over the past 12 months. However, its shares are down around 10% year-to-date.

Based on the current share price, Ava Risk has a market capitalisation of $123.2 million, with 241.6 million shares outstanding.

More reading

• What’s with the Ava Risk (ASX:AVA) share price today?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Race Oncology Ltd (ASX: RAC) shares are slipping in late morning trade despite the company providing a positive update. At the time of writing, the Race share price has slumped 1.27% lower to $3.90.

Below we take a look at the ASX healthcare share’s collaborative preclinical study announcement.

What did the company announce?

The Race share price is moving lower after the company reported it has entered into a collaborative preclinical research program with The University of Newcastle.

Well-known cancer researcher, Associate Professor Nikki Verrills, will lead the study. Verrills has previously collaborated with Race in the ASX pharmaceutical company’s preclinical breast and ovarian cancer programs.

According to today’s release, the collaborative program will use “cellular models to investigate Bisantrene as a novel treatment for clear cell renal cell carcinoma (ccRCC)”. ccRCC is a type of kidney cancer, with a 5-year survival rate of only around 12%.

Race’s Bisantrene is a targeted inhibitor of the Fat Mass and Obesity associated protein (FTO). According to Race, earlier studies have indicated “FTO enzyme activity is essential for ccRCC survival and the inhibition of FTO can directly kill more than 90% of ccRCCs”.

Commenting on the preclinical study, Race Oncology chief scientific officer Daniel Tillett said:

This is a very important project for Race and we are looking forward to collaborating further with Associate Professor Verrills. Recent scientific developments have identified Bisantrene as a potent targeted agent of FTO which offers the possibility of novel treatment options for patients with kidney cancer that can rapidly be translated into the clinic.

We are excited about this research which will further our knowledge of Bisantrene and it adds to the FTO-directed preclinical work we have just initiated in melanoma.

Race said the project will commence immediately and it expects to report results to the market over the next 12 months.

Race Oncology share price snapshot

There’s no doubt Race Oncology shareholders who bought shares 12 months ago are pleased. Race shares are up a jaw-dropping 1,460% over the past full year, compared to a gain of 40% on the All Ordinaries Index (ASX: XAO).

So far in 2021, the Race share price is up by 100%.

More reading

• Race Oncology (ASX:RAC) share price slides on a new melanoma preclinical study
• Race Oncology (ASX: RAC) share price higher on preclinical breast cancer results
• Subreddit ASX Bets is gambling these 4 ASX shares will follow in GameStop’s footsteps

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Black Cat Syndicate Ltd (ASX: BC8) share price is moving higher in early morning trade. At the time of writing, the Black Cat share price is up 1.5% to 68 cents.

Below, we take a look at the ASX gold miner’s latest acquisition announcement.

What acquisition did Black Cat report?

The Black Cat share price is moving higher after today. This comes after the company reported it has exercised its option to acquire a 1.5 million tonnes per annum (mtpa) milling facility.

The facility, consisting of 2 mills, will be used at its Kal East Gold Project, near Kalgoorlie, Western Australia. Additionally, the company reports that with 756 square kilometres of tenements, Kal East contains a combined JORC 2012 Mineral Resource of 14.3Mt @ 2.2 g/t Au for 1,025,000 ounces of gold.

Black Cat will acquire the milling facility, inclusive of associated equipment, for a total of $1.24 million. It has already paid $100,000.

The company said it will build the facility in 2021, some 50 kilometres east of Kalgoorlie. Black Cat will initially install 1 of the 2 mills it has acquired. Furthermore, the second mill will be on standby for future milling capacity expansion.

Management commentary

Commenting on the milling facility acquisition, Black Cat’s managing director, Gareth Solly said:

The milling facility is ideal for our planned processing facility and includes sufficient grinding capacity for potential future expansion. Due diligence by a team of experts has confirmed that the facility was operated for less than five years, has been well maintained and is in excellent condition. We are currently estimating the impact this milling facility has on our construction schedule and construction cost estimates for both the initial facility as well as the potential expansion case.

Black Cat share price snapshot

Over the past 12 months, the Black Cat Share price has been a star performer, up 166%. Comparatively, that’s a gain of 40% on the All Ordinaries Index (ASX: XAO).

The gold price is also up over the past full year, gaining 7.3% to the current US$1,734 (AU$2,266) per ounce. Year-to-date the gold price has dropped 8.7%. This is reflected in Black Cat’s shares. So far in 2021, the Black Cat share price is down 7.6%.

More reading

• Up 1,460% in a year, why the Race Oncology (ASX:RAC) share price is sliding today
• ASX 200 up 0.3%: Brickworks impresses, Resolute hammered, Netwealth crashes
• What’s happening with the Galaxy (ASX:GXY) share price today?
• 2 ASX shares rated as strong buys by brokers
• Strategic Elements (ASX:SOR) share price rises after latest announcement

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. The benchmark index is up 0.3% to 6,801.6 points.

Here’s what is happening on the market today:

Brickworks half year result

The Brickworks Limited (ASX: BKW) share price is pushing higher today following the release of its half year results. Although the building products company’s underlying earnings were down on the prior corresponding period, management spoke positively about its outlook. This appears to be an indication that the worst is now behind Brickworks.

Resolute share price hammered

The Resolute Mining Limited (ASX: RSG) share price has been hammered on Thursday. This follows news that its Bibiani Gold Mine licence in Ghana has been terminated. As a result, it has been advised to cease all activities and operations at the site. This shock news now casts doubt on the company’s sale of the asset to Chifeng Jilong Gold Mining.

HUB24 and Netwealth crash

The HUB 24 Ltd (ASX: HUB) share price and the Netwealth Group Ltd (ASX: NWL) share price are crashing lower today. This follows the release of an announcement out of the latter this morning. According to the release, Netwealth’s agreement with Australia and New Zealand Banking GrpLtd (ASX: ANZ) in relation to the interest payable on the total pooled cash transaction account is to be terminated in 12 months. The agreement currently provides a margin of 95 basis points above the overnight cash rate.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Premier Investments Limited (ASX: PMV) share price with a 6% gain. This morning analysts at Macquarie retained their outperform rating and lifted their price target to a lofty $31.00. The worst performer has been the Resolute share price with a 22% decline after its shock update.

More reading

• Why the Netwealth (ASX:NWL) share price is sinking 15% lower today
• Brickworks (ASX:BKW) share price higher following half year results
• The ASX sector set to outperform this morning thanks to Suez
• Top broker puts sell rating on Premier Investments (ASX:PMV) share price
• Why the Resolute (ASX:RSG) share price will be in focus this morning

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended Brickworks and Premier Investments Limited. The Motley Fool Australia owns shares of Netwealth. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Galaxy Resources Limited (ASX: GXY) share price has struggled in recent months despite stronger lithium prices and a steady flow of positive updates. 

Galaxy shares are down 0.43% year to date and have failed to launch far out of the starting blocks in trading so far today. At the time of writing, the Galaxy share price is up 0.43% at $2.32.

This comes as the lithium miner confirmed the achievement of battery-grade lithium carbonate at its wholly-owned brine project, Sal de Vida. 

Galaxy share price flat despite positive update 

Galaxy is advancing the development of its Sal de Vida lithium brine project in Argentina. The project is situated in the lithium triangle where Chile, Argentina and Bolivia meet, which is currently the source of more than 40% of global lithium production. 

Galaxy has highlighted Sal de Vida as a tier 1 asset with high grades, a large scale and a long life brine resource. The company has de-risked the development plan, having received a majority of permits required. The project is on schedule to target its first production in late 2022, in time for the forecasted lithium demand surge.  

Today, Galaxy announced that it had achieved battery-grade lithium carbonate from its simplified evaporation flowsheet. Test work and piloting over the previous 12 months has steadily improved the flowsheet process required to extract brine, evaporate water and remove impurities, resulting in improved product quality and project metrics.

The company advised this achievement and addition could be seamlessly incorporated into the stage 1 project development schedule at Sal de Vida without any delay. 

What did management say?

Commenting on the achievement, Galaxy CEO Simon Hay said:

Our technical development and Argentinian site teams have progressively improved product quality over the course of piloting and test work. This strategy has now achieved a major milestone with Galaxy adopting battery grade quality as the design basis for Stage 1.

Successful production of battery grade increases Galaxy’s revenue generating potential and widens the customer base. Offtake discussions will now be advanced with interested customers.

This technological breakthrough is unique to conventional evaporation processes and is an outstanding development achievement for the Sal de Vida team. Galaxy remains on track to execute and deliver a highly competitive, low-cost project to the market in time for the forecast lithium demand surge.

Sal de Vida currently represents a significant proportion of Galaxy’s lithium resource.  The company’s corporate presentation highlights that Sal de Vida contains more than half of its total resource base of 6.8 million tonnes of lithium carbonate equivalent. 

More reading

• Why the Galaxy Resources (ASX:GXY) share price is falling today
• ASX lithium shares on watch as lithium prices eye 2-year high
• Goldman reaffirms its conviction buy on this ASX share on Yallourn shutdown
• Top brokers name 3 ASX shares to sell today
• Here’s why the Galaxy (ASX:GXY) share price is pushing higher today

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX share brokers are always on the lookout for opportunities to buy which could be undervalued.

If there’s an ASX share that is liked by many brokers at once. A business that’s seen as an opportunity by many brokers could be worth looking at.

Here are two that several brokers like right now:

Alliance Aviation Services Ltd (ASX: AQZ)

Alliance Aviation describes itself as a leading air charter services operator, dedicated to providing specialised services for the resources industry, and inbound and domestic group travel.

It’s currently liked by at least three brokers. Credit Suisse has a price target of $5.40 for the charter flight business, which suggests a potential upside of around 35% over the next 12 months.

The broker is impressed by how quickly the company seems to be improving and its cashflow also seems to be going well.

In the FY21 half-year result it saw operating revenue go up 2.3% to $154.8 million, underlying profit before tax increased by 72.3% to $26.7 million and operating cashflow surged 225.3% to $47.5 million.

Net debt reduced to just $6.9 million at the end of the period.

The number of aircraft in service continues to increase and it’s becoming more efficient when it comes to revenue per employee.

Alliance Aviation has a positive outlook for FY21 and is forecasting growth into FY22 and beyond.

The ASX share is expecting to see contract revenue continue to increase as the annualised impact of increased schedules is realised. Revenue streams impacted by COVID-19 in the second half of FY20 are showing signs of growth now.

HomeCo Daily Needs REIT (ASX: HDN)

This is a real estate investment trust (REIT) that mostly owns city-located property assets relating to local shopping centres, large format retail real estate and health and services.

Morgans rates the ASX share as a buy, with a price target of $1.45. It’s liked by at least two other brokers right now. 

It has a portfolio worth almost $1 billion with tenants like Woolworths Group Ltd (ASX: WOW), Coles Group Ltd (ASX: COL), Wesfarmers Ltd (ASX: WES), Super Retail Group Ltd (ASX: SUL), IGA, Spotlight, Aldia, Chemist Warehouse and Petstock.

The ASX share continues to buy new assets, such as a Bunnings location for $56 million and the Marsden Park Shopping Centre for $48 million.

It has an occupancy rate of 98.7% and a ‘trading occupancy’ of 96.7%, which has improved from earlier disclosures.

For FY21 it’s expecting to generate funds from operations (FFO) of $20.5 million, or 4.2 cents per unit, which was a 9% increase of its previous forecast. It’s also expecting to pay a FY21 distribution of 4.2 cents per unit.

That translates to a yield of 3.25% for FY21. In FY22, Morgans is expecting a payout of 8 cents per unit, which is a yield of 6.2%.

The business has $22 million of brownfield development projects scheduled for opening in FY22, which is expected to deliver a cash yield of more than 10% per annum.

More reading

• Strategic Elements (ASX:SOR) share price rises after latest announcement
• Why the NSW floods failed to push ASX agriculture shares under water
• Is the Affirm share price dragging ASX BNPL shares lower?
• Suncorp (ASX:SUN) share price sinks today after floods update
• Why the Netwealth (ASX:NWL) share price is sinking 15% lower today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Wesfarmers Limited, and Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Strategic Elements Ltd (ASX: SOR) share price has opened 5% higher today.This comes after the company announced that it successfully demonstrated the potential of its automation & robotics platform (AxV) to be leveraged for the multi-billion dollar global agriculture sector.

At the time of writing, the Strategic Elements share price has retreated slightly and is currently trading at 44 cents. Below, we take a closer look at the developments. 

Strategic Elements announces potential of weed detection automation 

Strategic Elements are working to achieve early-stage validation for the detection of weeds. For this project, they are working alongside the Australian Herbicide Resistance Initiative and the University of Western Australia School of Agriculture and Environment. 

Advanced weed detection technologies typically use RGB cameras and different forms of imaging. This technology makes it possible to distinguish weeds and crops via colour. Strategic Elements highlights the ‘serious limitations’ of the technology in some scenarios. Particularly, in broadacre cropping where weeds are often the same colour as crops. Due to the similarities in colour, this form of detection often results in the excessive use of chemicals and production losses.

The company notes that the estimated cost of weeds in Australian cropping systems alone is at ~A$3.3 billion.  Comparatively, the annual cost of weeds in the United States is estimated at ~US$34.5 billion. 

Strategic Elements is taking a different approach to the issue. Their strategy involves leveraging its sophisticated sensor, mapping, and utilising localisation technology. This technology is already built and is used in its Autonomous Security Vehicle collaboration with US Fortune 100 company, Honeywell. 

The company has collected logistics and in-field scoping data from a large scale broadacre farm in Western Australia. This data allows Strategic Elements to enable detection of weeds protruding above the canopy of a barley crop. Weed detection prototype hardware was later developed and installed onto a combine harvester during harvest.

Algorithms were then developed, tested, and validated during the harvest. This occurred by comparing the location of weeds detected by the technology with known locations of weeds with visual confirmation. Although the testing was completed on a limited data set, the technology was able to detect 100% of weeds. The specifications included a height threshold of 20 cm above the crop canopy. 

Management commentary

Managing director, Charles Murphy commented on the company’s versatile automation technology: 

Our strategy to build a platform that had applications across multiple industry sectors is starting to fulfill its promise. Our commercialisation strategy is to collaborate closely with end users to solve a real, existing problem with automation. From an Australian domestic market context other sectors like logistics and mining also have attractive opportunities and we are very active in seeking the right partners with which to collaborate.

The future of Strategic Elements

Looking ahead, the company targets further optimisation of the weed detection technology by 2Q21.

This will be followed by further product engineering in the third and fourth quarter. Further development will evolve the product into a versatile and easy to use package. This package will then be installed by farmers on a wider range of farm equipment.

Finally, the company aims to have a program running to deploy the weed detection technology to at least 10 potential end customer reference sites. Strategic Elements believes this will be operational in the November 2021 harvest. 

More reading

• Why the NSW floods failed to push ASX agriculture shares under water
• Is the Affirm share price dragging ASX BNPL shares lower?
• Suncorp (ASX:SUN) share price sinks today after floods update
• Why the Netwealth (ASX:NWL) share price is sinking 15% lower today
• Here’s why the Piedmont Lithium (ASX:PLL) share price is crashing 17% lower

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you thought that the terrible floods afflicting the New South Wales central coast would be bad news for ASX agri shares, think again!

The “rain bomb” that is hammering prime agriculture land doesn’t seem to be hurting ASX shares exposed to the sector.

In fact, one leading broker thinks it’s a boon and the update that sent the Graincorp Ltd (ASX: GNC) share price surging adds to the argument.

NSW floods not without costs

This isn’t to say that farmers that have been hit by the deluge aren’t suffering. For instance, the price of blueberries is likely to surge as crops are damaged.

The NSW central coast accounts for 75% of blueberry production in the country, reported the Australian Financial Review.

The article also highlighted cattle farmers who have been badly affected by yet another 100-year natural disaster.

Luck smiles on ASX agriculture shares

There are clearly those who will be doing it tough, but the pain isn’t widespread thanks in part to good timing.

“We note that flooding, at this point, has not been observed within NSW’s main row-crop (grain) production regions, which are located further inland,” said UBS.

“We also highlight that planting for the main east coast winter crop does not usually begin until April/May, meaning recent rainfall in farming regions could be supportive of improved soil moisture content levels, following the drought conditions observed in recent years.”

Double tailwind

If anything, the broker believes the agriculture sector is set for a big recovery even with the NSW floods. Subsoil and topsoil moisture levels point to a decisive break in drought conditions that have gripped the region in the last three years.

Talking about good timing, any bumper crop will coincide with soft commodity prices.

For instance, wheat makes up around 60% of Australian crop production and prices are up by approximately 50%, added UBS.

ASX shares best placed to benefit

A number of ASX agribusiness shares are well placed to benefit from the recovery. One of UBS’ key picks in the sector is the Incitec Pivot Ltd (ASX: IPL) share price.

The broker’s “buy” recommendation on Incitec is driven by a strong outlook for international fertiliser prices and improving conditions for its local fertiliser business.

Another stock the broker is bullish on is the Nufarm Ltd (ASX: NUF) share price.

“We are also Buy-rated on Nufarm, where recovering agriculture conditions, reversal of cyclical input cost pressures and the re-basing of the group’s cost base are driving a significant earnings recovery,” said UBS.

The broker’s 12-month price target on the Incitec share price is $2.85 and Nufarm share price is $5.70 a share.

More reading

• Why Alcidion, GrainCorp, Premier Investments, & Xero are storming higher
• Why the GrainCorp (ASX:GNC) share price is on watch today
• Risk posed to Graincorp (ASX:GNC) share price following ACCC verdict
• Leading brokers name 3 ASX shares to buy today
• ASX 200 Weekly Wrap: Inflation fears hold ASX down

Motley Fool contributor Brendon Lau owns shares of Nufarm Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX-listed buy now, pay later (BNPL) shares have opened lower across the board on Thursday. Whilst the S&P/ASX All Technology Index (ASX: XTX) is slumping 1.16% lower at the time of writing, some ASX BNPL shares are faring considerably worse.

Could the overnight performance of the Affirm Holdings Inc (NASDAQ: AFRM) share price be partially to blame?

Why does the Affirm share price matter? 

Global equity markets have the tendency to move in tandem and be affected by each other’s performances. For example, a significant sell-off in the US market overnight will typically see ASX futures lose ground or open weaker than expected.

Shares that are listed in different markets but operate in the same sector or with similar business models can also have a tendency to exhibit similar movements. 

Affirm is one of the top three largest BNPL players in the United States with a market capitalisation of US$18 billion. Despite its size, the company only has regional exposure to North America compared to most ASX BNPL shares that have more diversified geographic exposure. 

Affirm is a relatively new listing, making its debut on the Nasdaq on 13 January at an initial public offering (IPO) price of US$39 per share. Its shares exploded on open and in the following days, ran as high as US$146.90. 

The Affirm share price has more than halved since its peak, closing almost 8% lower on Wednesday night (our time) to a record low of US$72.63. 

ASX BNPL shares sink on Thursday 

The stars have aligned for ASX-listed BNPL shares to fall on Thursday.

The tech-heavy Nasdaq Composite (NASDAQ: .IXIC) slumped 2% overnight compared to the Dow Jones Industrial Average Index (DJX: .DJI) that finished flat and S&P 500 Index (SP: .INX) finishing just 0.55% lower. 

The weakness in tech, arguably combined with the Affirm share price diving 8%, has seen the following performances from ASX-listed BNPL shares so far this morning: 

• Afterpay Ltd (ASX: APT) share price down 3.05% to $104.22.
• Zip Co Ltd (ASX: Z1P) share price down 3.52% to $7.67.
• Sezzle Inc (ASX: SZL) share price down 0.87% to $7.445.
• Splitit Ltd (ASX: SPT) share price currently flat at 84 cents after having dropped as low as 82.5 cents in earlier trade. 
• Openpay Group Ltd (ASX: OPY) share price down 3.6% to $2.41. 
• Humm Group Ltd (ASX: HUM) share price up 2.08% to 98 cents following a positive update. 
• Laybuy Holdings Ltd (ASX: LBY) share price down 3.33% to $1.015.

ASX-listed BNPL shares are all slumping to 2 to 4-month lows with the exception of Laybuy, which is faring even worse.

In a similar fashion to the Affirm share price, Laybuy has hit an all-time record low following its ASX debut on 7 September 2020. From peak to trough, Laybuy shares have lost more than 50% in value from $2.30 to their current level. 

More reading

• 5 things to watch on the ASX 200 on Thursday
• Macquarie sees near-term pain for the Afterpay (ASX:APT) share price
• Why Zip (ASX:Z1P) and this growth share are in the buy zone today
• Airtasker (ASX:ART) share price cools after explosive IPO
• Why the Xero (ASX:XRO) share price is outperforming today

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Humm Group Limited and Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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